Allianz acquires its second subsidy-free solar project

By Amber Donovan-Stevens
Allianz has started 2019 in a strong position following the acquisition of a second subsidy free solar market project in Portugal...

Allianz has started 2019 in a strong position following the acquisition of a second subsidy free solar market project in Portugal. Portugal is one of the leading countries in producing clean energy, with wind solar and hydro power forming 50% of its energy output.

The project, titled ‘Solera,’ will be the largest project in Portugal. The site is located 230km from South-East Lisbon, and will offer huge economic improvement to Vaqueiros with the creation of 1,500 jobs.

Marc Groves-Raines, Head of Renewables at Allianz Capital Partners, said: “Allianz is one of the leading investors in renewable energies in Europe as we aim to lead our industry in integrating ESG (Environmental, Social and Governance) factors into our investment businesses.”


Top 10 most valuable brands in Europe

2019: The year of transparency and authenticity

The Louvre breaks new visitor record in 2018

Read the latest issue of Business Chief Europe here


This is not the company's first solar project. Allianz took on their first investment of Iberia’s solar farm in Ourique, Portugal.

Groves-Raines continues: “this is already our second investment in Portugal in the subsidy free area in combination with a PPA. We are delighted to partner again with WElink on this attractive solar project. With our 9th solar investment Solara we will have more than 90 projects in our renewables portfolio,”

Allianz has nine solar farms and 83 wind parks located across Austria, Finland, France, Germany, Italy, Portugal, Sweden and the United States. The total energy output of these locations can power over a million homes.

Construction for the project is already underway. By its completion, the production capacity of the solar project will produce 219 MW, providing clean energy for over 100,000 houses per year.


Featured Articles

Honeywell debunks hydrogen energy and its global challenges

Maya Gomez, Director of Green H2 CCM at Honeywell, uncovers the different types of hydrogen and the challenges of applying them for more sustainable energy

ABB Motion & WindESCo partner to strengthen wind energy

ABB Motion invests in WindESCo to sustain wind turbine performance, in a renewable energy drive that will help ABB in its net zero ambitions

Shell Energy UK and Germany acquired by Octopus Energy

Octopus delivers industry leading service whilst investing in clean energy systems — we will deliver this to the new customers too, says CEO Greg Jackson

Sustainability LIVE links to energy and electrification


Green energy: A hot topic at Sustainability LIVE 2023


Sustainability LIVE London sells out on 2023 conference